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Revenue have issued the below information relating to tax treatment of Profit Sharing Schemes.  The exact details are highlighted in the Tax and Duty Manual Part 17-01-03 (Profit Sharing Schemes):

  1. In paragraph 7.9, which deals with the exchange of shares, held in an Approved Profit Sharing Scheme, for cash in a take-over situation, to clarify the time-frame for re-investing the payment in shares in the take-over company
  2. In Appendix 2, paragraph “Contributory Schemes – Carry forward of contributions”, to remove the condition which required the contributions to be fixed at the start of each year.


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All the best,
The Team at Jefferson

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